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New TriZetto Workflow Application Helps
Health Plans Improve Productivity, Profitability
NEWPORT BEACH, Calif. – December 17, 2003 – The TriZetto Group Inc., (NASDAQ:TZIX), today announced the availability of a new add-on workflow application for its Facets Extended Enterprise™ (e2) core administrative system. The Facets e2 Workflow software automates manual processes and streamlines workflows, helping health plans reduce claims turnaround times and administrative costs.
For health plans, one key to efficient claims processing is routing claims to the right person at the right time, as workloads fluctuate. With Facets e2 Workflow, claims are prioritized and routed automatically according to rules established by the plan's business staff. The application uses a natural language feature, which allows health plan employees – even those without extensive IT training – to add or change rules quickly and easily.
By automating manual tasks and processes, staff productivity is greatly enhanced – and the need for supervisor intervention in routine workflow processes is greatly reduced. Faster claims turnaround times allow health plans to realize lower overall operating costs, as well as nearly immediate ROI through prompt-pay discounts. The application also gives health plans a competitive advantage: faster, more accurate claims adjudication translates directly into improved service for plan members and providers.
"No area in a health plan's operations holds more potential for improving efficiency and reducing costs than claims processing," said Tony Bellomo, president of TriZetto's software unit. "Facets e2 Workflow gives health plans the tools, functionality and ease of use they need to positively impact claims workflows – as well as the bottom line. Only Facets e2 provides the deep integration between the workflow rules engine and the core administrative processing."
About TriZetto
The TriZetto Group, Inc. offers a broad portfolio of healthcare information technology (IT) products and services that can be delivered individually or combined to create a comprehensive solution.
The company provides:
- leading proprietary and third-party software, including e-business applications;
- outsourced services, such as software hosting, transaction processing and IT department operations; and
- strategic and implementation consulting.
TriZetto is focused on three healthcare markets: payers, benefits administrators and physician groups. Its more than 400 customers represent approximately 40 percent of the U.S. insured population. Headquartered in Newport Beach, Calif., TriZetto can be reached at (949) 719-2200 or www.trizetto.com.
This press release contains forward-looking statements that involve risks and uncertainties. The forward-looking statements are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements may include statements about future net revenues, profits, and financial results, the market for TriZetto's services, future service offerings, client and partner relationships, and TriZetto's operational capabilities. Actual results may differ materially from those stated in any forward-looking statements based on a number of factors, including the effectiveness of TriZetto's implementation of its business plan, the market's acceptance of TriZetto's services, risks associated with management of growth, reliance on third parties to supply key components of TriZetto's services, attraction and retention of employees, variability of quarterly operating results, competitive factors, risks associated with acquisitions, changes in demand for third party products or solutions, which form the basis of TriZetto's service offerings, financial stability of our customers, the ability of TriZetto to meet its contractual obligations to customers, changes in government laws and regulations and risks associated with rapidly changing technology, as well as the other risks identified in TriZetto's Form 10-K and other SEC filings.
CONTACTS:
TriZetto Media Relations
Audrey Mautner
303-495-7197
audrey.mautner@trizetto.com
Schwartz Communications
Brian Bogie
781-684-0770
trizetto@schwartz-pr.com
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